Mortgage Rates Rise Mortgage rates have hovered at multi-month lows in recent weeks, but this week, rates inched up across the board. However, economists say they expect overall borrowing costs to remain low, despite the slight uptick. “Rates moved up slightly this week while mortgage applications decreased following last week’s jump in rates—indicating borrower sensitivity …
Tag: News
Apr 12
Home Exteriors to be on the look out for
Home Exteriors to be on the look out for Architectural styles are getting mixed up in home exteriors, but a few trends are emerging. A recent article on Houzz, a home remodeling site, highlights some of the biggest trends in home exteriors, based on the most popular exterior photos uploaded to the site so far …
Apr 11
Home Improvement Mistakes
Home Improvement Mistakes DIY home improvement jobs can end in disaster. And even when they don’t, projects can become time-consuming and costly. Botched DIY home improvement jobs can also lead to quarreling among loved ones, shows a new survey from Porch.com, a home improvement website. Porch.com surveyed more than 1,000 homeowners to discover the biggest …
Apr 10
What is External Obsolescence?
What is External Obsolescence? External obsolescence is a factor that reduces the value of an improvement because of something external to the property itself. It refers to something outside the home that is causing a lower property value. Five examples of external obsolescence: Busy Road: This is a very common example of external obsolescence because …
Apr 09
Cost of Common Home Repairs
Cost of Common Home Repairs Homeowners are sprucing up their homes more this year, tackling several home improvement projects. Eighty-eight percent of homeowners recently surveyed say they performed a major home repair in the last year, and more than half said they managed multiple major repairs or home improvement projects, according to a new analysis …
Apr 08
Self Employed Loan Approvals Just got Easier.
Self Employed Loan Approvals Just got Easier. The two largest sources of mortgage money in the United States want self-employed loan shoppers to know that their chances of getting a home loan approved have increased. Fannie Mae and Freddie Mac have rolled out automated underwriting technology for lenders that take a lot of the guesswork and …
Apr 05
Cities for Dog Lovers
Cities for Dog Lovers Families love their pets, and dogs in particular tend to be a household favorite. But moving can be stressful for a family pet, and realizing that, more buyers are factoring Fido into their buying decisions. Indeed, 81 percent of respondents to a National Association of REALTORS® survey in 2017 said that …
Apr 04
What buyers want from you
What buyers want from you Technology may be aiding home searches, but buyers know they can only go so far before they need a real estate agent. Eighty-seven percent of all buyers purchased their home through a real estate agent—and 92 percent among buyers 28 and younger, according to the National Association of REALTORS®’ newly …
Apr 03
Still renting? Your monthly rent could fund your dreams
Still renting? Your monthly rent could fund your dreams The leap from renter to owner is closer than you think. Many renters are discovering that they can qualify to buy a home of their own. Now might be the time to turn that monthly rental check into your first home while interest rates are still …
Apr 02
Dream Bathrooms your Clients Want
Dream Bathrooms your Clients Want Seventy-eight percent of home buyers say a linen closet in the master bathroom is “desirable” or an “essential/must-have feature,” according to the National Association of Home Builders’ 2019 What Home Buyers Really Want Survey. The report is based on responses from recent and prospective home buyers who plan to purchase …
Apr 01
Mortgage Rates have Largest Drop in a Decade
Mortgage Rates have Largest Drop in a Decade The 30-year fixed-rate mortgage plunged 22 basis points this week, the largest one-week drop in 10 years, Freddie Mac reports in its weekly mortgage survey. “The Federal Reserve’s concern about the prospects for slowing economic growth caused investor jitters to drive down mortgage rates by the largest …
Mar 29
Declines in Bidding Wars
Declines in Bidding Wars There will likely be less competition for home buyers this spring—a widely reported index from Redfin shows a significant decrease among real estate professionals reporting bidding wars this month, compared to a year ago. Only 16 percent of offers written by Redfin agents on behalf of their customers in the first three weeks …
